Schroder Investment Management Group purchased a new stake in Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 586,979 shares of the biopharmaceutical company’s stock, valued at approximately $6,721,000. Schroder Investment Management Group owned about 0.87% of Alder BioPharmaceuticals as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Redmile Group LLC lifted its stake in Alder BioPharmaceuticals by 16.4% during the 2nd quarter. Redmile Group LLC now owns 2,223,811 shares of the biopharmaceutical company’s stock worth $25,463,000 after acquiring an additional 313,925 shares in the last quarter. Eagle Asset Management Inc. raised its position in Alder BioPharmaceuticals by 52.0% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,756,507 shares of the biopharmaceutical company’s stock valued at $20,112,000 after purchasing an additional 601,242 shares in the last quarter. Asymmetry Capital Management L.P. raised its position in Alder BioPharmaceuticals by 320.1% in the 2nd quarter. Asymmetry Capital Management L.P. now owns 166,752 shares of the biopharmaceutical company’s stock valued at $1,909,000 after purchasing an additional 127,056 shares in the last quarter. Citigroup Inc. raised its position in Alder BioPharmaceuticals by 285.7% in the 2nd quarter. Citigroup Inc. now owns 33,433 shares of the biopharmaceutical company’s stock valued at $383,000 after purchasing an additional 24,765 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Alder BioPharmaceuticals by 3,084.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 235,603 shares of the biopharmaceutical company’s stock valued at $2,697,000 after acquiring an additional 228,205 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently commented on ALDR. ValuEngine upgraded Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, September 30th. Mizuho restated a “buy” rating and set a $32.00 price target on shares of Alder BioPharmaceuticals in a research note on Wednesday, November 8th. BidaskClub upgraded Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday. Cowen initiated coverage on Alder BioPharmaceuticals in a report on Tuesday, September 26th. They issued an “outperform” rating and a $20.00 price target for the company. Finally, Canaccord Genuity initiated coverage on Alder BioPharmaceuticals in a report on Thursday, October 26th. They issued a “buy” rating and a $20.00 price target for the company. Three analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $28.07.
In other Alder BioPharmaceuticals news, insider Mark James Litton sold 16,519 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $10.80, for a total transaction of $178,405.20. Following the sale, the insider now owns 116,451 shares in the company, valued at $1,257,670.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.60% of the company’s stock.
Shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) traded up $0.95 on Tuesday, hitting $12.40. The company’s stock had a trading volume of 904,598 shares, compared to its average volume of 757,500. The firm has a market capitalization of $839.65, a PE ratio of -2.31 and a beta of 2.48. Alder BioPharmaceuticals, Inc. has a 12 month low of $8.60 and a 12 month high of $25.45.
Alder BioPharmaceuticals (NASDAQ:ALDR) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.21) by $0.29. During the same period last year, the firm posted ($0.70) earnings per share. equities research analysts expect that Alder BioPharmaceuticals, Inc. will post -5.14 EPS for the current fiscal year.
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Alder BioPharmaceuticals Company Profile
Alder BioPharmaceuticals, Inc, is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize genetically engineered therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. Alder’s lead pivotal-stage product candidate, eptinezumab, is being evaluated for migraine prevention.
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